WCA November 2011

Industry news

Jindal Steel raises $475m for expansion

Jindal Steel & Power Limited (JSPL), one of India’s largest steelmakers and owner of the Jindal Shadeed Iron and Steel plant in Sohar, has raised US$475m to fund its expansion programme in Oman, having raised the loan at 225 basis points over the Libor (London interbank offered rate) for five years. D K Saraogi, executive president of Jindal Shadeed and head of JSPL’s Oman operations, told Muscat Daily: “The major part of this loan will be used to finance the expansion programme in Oman. “And some money is likely to go for technology and technical purchases outside Oman.” Saraogi continued: “We are trying to take the capacity up to five million tonnes by 2015-16. “Until the expansion programme is initiated we cannot divulge details of investments,” and went on to explain that the necessary pellets will be sourced from JSPL’s plant in Bolivia, once it becomes fully operational.

Cable&Wireless appoints manager for Hong Kong Bhupinder Singh has been appointed as country manager for

Cable&Wireless Worldwide’s Hong Kong operations. Based in Hong Kong, he will hold the new position in addition to his current role as vice president for delivery, Asia-Pacific, for the mission critical communications provider. Mr Singh has over 16 years of experience in delivering strategic programmes across private and public industry sectors including telecommunications, banking, utilities, manufacturing, and oil and gas. Hong Kong is a key hub for the company’s Asia Pacific business, supporting the needs of many of the world’s largest banking, financial services, manufacturing and high-technology brands. In the last year, Cable&Wireless Worldwide has extended its network in the region with the commissioning of its own backhaul network in Hong Kong. In addition, it has secured a Unified Carrier Licence from the Hong Kong Telecoms Authority, which allows it to provide and operate a public internal telecoms network and sell an expanded scope of telecoms services to customers.

❍ ❍ Bhupinder Singh

“Bhupinder is a senior member of the Asia management team and has worked with Cable&Wireless Worldwide in various roles for more than a decade,” said Mike Powell, vice president, service delivery, global markets at Cable&Wireless Worldwide. Mr Singh has an engineering degree in computer sciences and an MBA from the Anderson School of Management, UCLA. Cable&Wireless Worldwide (Asia Pacific) – Singapore Email : michele.soon@cw.com Website : www.cw.com

This is expected to take two years.

Jindal Steel & Power Limited – India Fax : +91 112 616 1271 Email : marketing@jindalsteel.com Website : www.jindalsteelpower.com

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Wire & Cable ASIA – November/December 2011